Bharti Airtel and subsidiary Bharti Hexacom have pay as you go an additional ₹5,985 crore of high-cost spectrum liabilities to the federal government, the telco stated on Wednesday.
Airtel’s subsidiary Community i2i has additionally voluntarily known as and redeemed $1 billion in ‘perpetual debt securities’.
“Bharti Airtel and its subsidiary Bharti Hexacom have pay as you go additional ₹5,985 crore to the Division of Telecom thereby absolutely prepaying the high-cost curiosity liabilities of 8.65 per cent pertaining to the 2024 auctions,” the Sunil Mittal-led firm stated.
Community i2i Ltd has additionally voluntarily known as and redeemed $1 billion in ‘Perpetual Notes’.
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“Underscoring its dedication to monetary prudence, operational effectivity, and its sturdy capital place, Airtel continues to prepay its high-cost spectrum liabilities, reducing its debt and price of debt,” it stated.
Airtel has now pay as you go ₹25,981 crore of high-cost spectrum liabilities for the present 2025 fiscal yr and has cumulatively pay as you go spectrum liabilities of ₹66,665 crore as on date.
The common rate of interest on the cumulative liabilities pay as you go was about 9.74 per cent.
The telco had earlier absolutely pay as you go liabilities that had rates of interest of 10 per cent, 9.75 per cent and 9.3 per cent. These prepayments have been made about seven years forward of their common residual maturities.
The prepayments have resulted in Airtel clearing ₹1,16,405 crore of scheduled instalments that might have in any other case been payable on their respective dates over the unique tenure of the liabilities.
“Consequent to these funds, Airtel has additionally lowered its price of debt on spectrum liabilities to a median of roughly 7.22 per cent on the residual ₹52,000 crore of spectrum liabilities (excluding AGR liabilities),” in accordance to the corporate.
The residual spectrum liabilities carry a protracted reimbursement profile payable in annual instalments till FY 2042.
Moreover, Airtel’s subsidiary Community i2i Restricted has voluntarily exercised a name choice and redeemed $1 billion in USD perpetual notes issued in FY 2020.
“Perpetual notes in any other case had no contracted maturity and carried an rate of interest of 5.65 per cent. Submit the redemption of $1 billion in perpetual notes, Airtel could have roughly $479 million of perpetual notes excellent, which have been issued throughout FY2021. These notes could be known as in FY2026,” Airtel stated.
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